Global Healthcare API Market Size was $295.37 Million in 2023

Global Healthcare API Market Overview

According to Global Market Monitor,the global healthcare API market size was $295.37 million in 2023 with a CAGR of 7.53% from 2023 to 2029.

Fierce Competition

Patient-centered healthcare is an emerging trend in healthcare delivery that has led to higher patient satisfaction and improved quality of care. The emergence of several services, such as remote patient monitoring and wearable medical devices, has increased the demand for healthcare API solutions. There are fierce competitors among the leading players in the global healthcare API market.

Patient-centric healthcare is an emerging trend in healthcare delivery, resulting in better outcomes, higher patient satisfaction, and improved care quality. The emergence of a host of services, such as remote patient monitoring and wearable medical devices, has increased the demand for healthcare API solutions, which assist patients in knowing details about the experience, specialty, and timing of a doctor before consulting them.

Regional Market Status

The global healthcare API market is driven by the increasing popularity of API-driven electronic health records (EHR) that allow easy assimilation of patient information. Today, patient-centered health care is the focus of health care providers, improving health care quality, outcomes, and patient satisfaction.The government's continued shift from traditional methods to technologically advanced healthcare systems and IT solutions and services is expected to provide significant opportunities for market development. A growing number of market players are trying to expand their reach across various markets.  Due to the limited development of public IT infrastructure in emerging economies, large-scale adoption of healthcare IT solutions is witnessed as a long-term opportunity for developing countries.

North America dominated the market with a revenue share of 34.69% in 2023. This growth can be attributed to various factors such as favorable policies. Moreover, established healthcare infrastructure with integrated EHR of patients is another major growth propelling factor for the market. 

Europe is expected to exhibit the fastest CAGR over the forecast period owing to the established healthcare infrastructure in this region and the advent of the Internet of Things (IoT) and related technologies.  The General Data Protection Regulation (GDPR) was implemented on May 25th, 2020 in the European Union, which is a law on data privacy and protection.  The law is more stringent than that of the U.S., HIPAA, and addresses the personal export of data outside the European countries, which is expected to increase the adoption of healthcare API.

Drivers	Advances in IT infrastructure andthe emergence of the Internet ofThings
	Government support for theHealthcare API industry
	Increased Demand in EmergingMarkets
	API-integratedElectronic HealthRecords (EHRs)
Limitations	Fierce competition
	Price Rises of Labor Cost
	Disclosure of customer information